Matrix Concepts Holdings surged and touched the RM1.96 resistance level with higher trading volume. With its 21-day moving average indicator pointing upwards, coupled with a higher high candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM2.02, followed by RM2.03. The downside support is marked at RM1.90. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM1.96

Target: RM2.02, RM2.03 (time frame: 2-4 weeks)

Exit: RM1.90

Source: AmInvest Research - 12 May 2021